After two seasons as the Memphis Pros with middling profits, Charles O. Finley bought the team on June 13, 1972.
The team's name was picked from an array of 20,000 postcards sent by fans, with the winner being given a $2,500 prize, which turned out to be Tams.
Tams was meant to stand for the fans that resided in Tennessee, Arkansas, and Mississippi, with a tam-o-shanter hat being the main logo.
Finley also had a hand in the combinations of uniform colors worn, in part due to there every top and trunk being either green, gold, or white, with one notable combo being yellow tops with white trunks.
By December, Finley tried to have negotiations to move the team to St. Paul, Minnesota, and Ron Franz was cut before Christmas.